TIDMJSE
RNS Number : 2432V
Jadestone Energy Inc.
02 December 2019
Jadestone Energy Appoints Lisa Stewart as New Non-Executive
Director,
Announces the Departure of Eric Schwitzer
December 2, 2019-Singapore: Jadestone Energy Inc. (AIM:JSE,
TSXV:JSE) ("Jadestone" or the "Company"), an independent oil and
gas production company focused on the Asia Pacific region, is
pleased to announce the appointment of Lisa A. Stewart as a
Non-Executive Director of the board, effective December 1, 2019 and
the departure of Eric Schwitzer, effective November 30, 2019.
Appointment of Lisa Stewart
Ms. Stewart brings over 30 years of experience in the upstream
oil and gas industry in engineering and senior management
positions.
Ms. Stewart currently serves as Executive Chairman, President
and Chief Executive Officer of Sheridan Production Company LLC,
which she founded in 2006. Lisa has served as Executive Vice
President of El Paso Corporation and President of El Paso E&P.
In these positions, she had overall responsibility for a large and
diverse E&P company that generated operating revenue of US$1.8
billion and earnings of US$699 million. Prior to her time at El
Paso, Ms. Stewart spent 20 years at Apache, including extensive
experience in Asia Pacific, leaving in January 2004 as Executive
Vice President with responsibility for reservoir engineering,
business development, land, environmental, health & safety, and
corporate purchasing.
Ms. Stewart holds a B.S. in Petroleum Engineering from the
University of Tulsa, where she is a member of the College of
Engineering and Natural Sciences Hall of Fame. She is a member of
the Society of Petroleum Engineers and Independent Petroleum
Association of America and currently serves on the Board of
Directors of Cimarex Energy Co, as well as being a former
non-executive director of Talisman Energy Inc.
Dennis McShane, Non-Executive Chairman commented:
"We're delighted to welcome Lisa to the board. I believe we will
benefit enormously from her extensive international experience as
well as the deep technical skills she will bring to us. As we
continue to execute the Jadestone strategy, we have recognised the
need to strengthen the technical capability of the board to align
with the many opportunities ahead. Lisa's appointment also
evidences Jadestone's ongoing commitment to best-in-class corporate
governance practices."
Departure of Eric Schwitzer
After more than four and a half years of service, Eric Schwitzer
has stepped down as a Non-Executive Director of the board,
effective November 30, 2019.
Dennis McShane, Non-Executive Chairman commented:
"We would like to thank Eric for his invaluable leadership
during our last three years of rapid growth and transformation.
Eric was instrumental in guiding Jadestone through its major
strategic shift from the former Mitra Energy exploration led
strategy to a leading independent oil and gas production and
development company in Asia Pacific."
Eric first joined the Mitra Energy Board as an Executive
Director in April 2015, and served more than three years as a
Jadestone Non-Executive Director following the change of senior
management and Board members in June 2016.
After Eric's departure and Lisa's appointment, Jadestone will
continue to have eight Directors, including six non-executive
directors with significant public and private company leadership,
technical, operating and financial experience.
Eric Schwitzer commented:
"I am incredibly proud of the progress Jadestone has made in the
past three years and excited to watch its future success. I am
leaving the Board to focus on other projects and I wish the company
all the best as it continues to execute its strategy."
- Ends -
Enquiries
Jadestone Energy Inc. +65 6324 0359 (Singapore)
Paul Blakeley, President and CEO +1 403 975 6752 (Canada)
Dan Young, CFO ir@jadestone-energy.com
Robin Martin, Investor Relations Manager
Stifel Nicolaus Europe Limited (Nomad, +44 (0) 20 7710 7600 (UK)
Joint Broker)
Callum Stewart
Nicholas Rhodes
Ashton Clanfield
BMO Capital Markets Limited (Joint Broker) +44 (0) 20 7236 1010 (UK)
Thomas Rider
Jeremy Low
Thomas Hughes
Camarco (Public Relations Advisor) + 44 (0) 203 757 4980 (UK)
Billy Clegg jadestone@camarco.co.uk
James Crothers
Lisa Anne Stewart, nee Floyd, aged 62, has held the following
directorships and or/partnerships in the past five years:
Current Directorships/Partnerships Previous Directorships/Partnerships
Sheridan Production Company LLC Talisman Energy Inc.
Sheridan Holding Company I LLC
Sheridan Production Company LLC (Texas)
Sheridan Production Partners I LLC
(Texas)
Sheridan Investment Partners I LLC
(Texas)
Sheridan Production Partners Manager
LLC (Texas)
SPP I-B GP LLC (Texas)
Sheridan SMG LLC (Texas)
Sheridan Holding Company II LLC (Texas)
Sheridan Production Partners II LLC
(Texas)
Sheridan Investment Partners II GP
LLC (Texas)
SPP II-B GP LLC (Texas)
SPP II-M GP LLC (Texas)
Sheridan Holding Company III LLC (Texas)
Sheridan Production Partners III LLC
(Texas)
Sheridan Investment Partners III GP
LLC (Texas)
SPP III-B GP LLC (Texas)
SPP III-M GP LLC (Texas)
CASA Exploration LLC
LAS Interests LLC
Resources for the Future Inc.
Cimarex Energy Co. (Texas)
Cimarex Energy Co. (Louisiana)
Cimarex Energy Co. (Kentucky)
Cimarex Energy Co. (Wyoming)
Cimarex Energy Co. (Mississippi)
On September 15, 2019, Sheridan Holding Company II LLC and its
affiliates, namely Sheridan Investment Partners II GP LLC, Sheridan
Investment Partners II L.P., Sheridan Production Partners II LLC,
Sheridan Production Partners II-A L.P, Sheridan Production Partners
II-B L.P, Sheridan Production Partners II-M L.P, SPP II-B L.P and
SPP II-M GP LLC, filed a voluntary petition in the United States
Bankruptcy Court for the Southern District of Texas for relief
under Chapter 11 of the United States Code in the US Bankruptcy
Court, in order to engineer an orderly debt restructuring.
There are no further disclosures required to be made pursuant to
Schedule 2 paragraph (g) of the AIM Rules.
About Jadestone Energy Inc.
Jadestone Energy Inc. is an independent oil and gas company
focused on the Asia Pacific region. It has a balanced, low risk,
full cycle portfolio of development, production and exploration
assets in Australia, Vietnam and the Philippines.
The Company has a 100% operated working interest in the Stag
oilfield and the Montara project, both offshore Australia. Both the
Stag and Montara assets include oil producing fields, with further
development and exploration potential. The Company has a 100%
operated working interest in two gas development blocks in
Southwest Vietnam and is partnered with Total in the Philippines
where it holds a 25% working interest in the SC56 exploration
block.
Led by an experienced management team with a track record of
delivery, who were core to the successful growth of Talisman's
business in Asia, the Company is pursuing an acquisition strategy
focused on growth and creating value through identifying,
acquiring, developing and operating assets throughout the Asia
Pacific region.
Jadestone Energy Inc. is currently listed on the TSXV and AIM.
The Company is headquartered in Singapore. For further information
on Jadestone please visit www.jadestone-energy.com.
The information contained within this announcement is considered
to be inside information prior to its release, as defined in
Article 7 of the Market Abuse Regulation No. 596/2014, and is
disclosed in accordance with the Company's obligations under
Article 17 of those Regulations..
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Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
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END
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